Post: #1

2009 was my first year fully self employed. I've just put most of the things I need together to get my taxes done.

I've got 2 simple questions about taxes: 1) How to reduce paper use and 2) Should I swoop the tax lawyer chick??

The papers for myself and my business fill 5 of these Bankers Boxes and a copy paper box. This is too much paper.

I respect the land, so much so that some files are for a hybrid truck and a solar hot water heater.

My stuff is efiled every month but you still need paper copies? How do I reduce the amount of papers I need for this bullshit?

My second question is about my tax preparer. She's hot. She is a local-Japanese lawyer. I picked up a list of what I need to give her to do my taxes Thursday. I had met her maybe 6 months ago and she looked way better this time. She made a point to tell me how she's been doing some yoga crap. She was wearing a tank top type shirt and her arms were in great shape. Her skin looked perfectly tanned, too. I talk to her maybe once a week and always get her laughing. She was definitely giving me the eyes when I saw her.

I called her with some questions Friday and told her my state stuff was almost ready to go. She asked when I'd be in town again and I told her Sunday because someone gave me tickets to some kind of afterparty for the Sony Open. I asked if she wanted to go to the golf shit and she said yes. Monday is a holiday and she had planned on coming to The North Shore as it was to go to the beach. She said she'd been working a lot lately and needed a chill day. Basically she told me she wanted to stay over at my house. We both agreed I'd drop off the taxes, then we'd go to the golf party and "take it from there."

Long story made short, I'd like to bang the lawyer chick tomorrow.

It's not like I'm facing charges, in which case I wouldn't have a woman lawyer. She works for another lawyer and I would think that if she does anything shady or makes any mistakes, I could just turn around and sue that guy. In my opinion the professional responsibilities fall way more on her than they do on me. I just don't know if it's a good idea, business-wise to swoop someone who has so much access to all of my personal stuff? Is it worth the risk?

Hey mahalo for starting this section, Roosh. I got me thinking dollars the same weekend I had to do all this tax crap.

Aloha!

Post: #2

Not sure about the saving paper thing, but you raise some interesting points.

As far as the swooping your tax lawyer thing, I would say do not do it.

Unless you don't mind getting a new lawyer.

Biz and girls mix like oil and water.

Post: #3

A friend of mine his a lawyer and banged the lawyer he was working with. She was more and less his superior. After he ended dumping her but continued working with her. It took around one month for him to decide leaving the office because of all the bullshit he had to put up with.

Post: #4

Can you pay some kid to scan everything and then shred the paper?

Meet up with your tax girl really late so by the time you're done it's dinner and you can suggest a bite to eat.

Post: #5

Good advice.

I banged the tax chick. We discussed our personal/professional relationship afterwords and I think there won't be any problems. She told me she "understands contracts."

She seems to really know her stuff and most of what she does gets looked over by another lawyer.

There are so many pages I gave her that I just simply could have used both sides of.

Aloha!

Post: #6

"She told me she "understands contracts." "

Ha. Good one. Remember though, first and foremost, she is a girl. Lawyer second.

"There are so many pages I gave her that I just simply could have used both sides of. "

You will like this one Kona, in my office, instead of buying pads of paper, I am stapling together paper that has been printed out on and writing on the other side.

Post: #7

(01-18-2010 12:16 PM)thegmanifesto Wrote:  "She told me she "understands contracts." "

Ha. Good one. Remember though, first and foremost, she is a girl. Lawyer second.

"There are so many pages I gave her that I just simply could have used both sides of. "

You will like this one Kona, in my office, instead of buying pads of paper, I am stapling together paper that has been printed out on and writing on the other side.

That's another tip!

Make pads instead of buying them. So what if they aren't yellow.

Taking a good solid look at my taxes has shown me so many other ways I can be more efficient. Just simple crap I should have thought of before.

Aloha!

Post: #8

I like what you did with your second question there, that's definitely tax-related... and very important!

For your 1st question, I also do what thegmanifesto said; just bind all the used papers together nicely and you have the thickest scratch pad you'll ever have. You won't even think twice on scribbling stuffs on it. After you're done writing your soul out on every freakin' page of it, well maybe you can just drop it on recycling facilities. Or give it away to pet shop for the animal dungs. Or slap some ass with it. Your choice.

Post: #9

I bumped this thread, because it was the only thread I saw which was specifically about the subject of taxes and I didn't want to start a new thread.

As you can easily tell from my posts, I run a law practice. As you can also easily tell from my posts, I was in financial dire straits about five years ago and have since fully paid off my debts.

Here is my dilema. Every April 15, I get completely hit over the head as far as both federal and state taxes go. Some years, the check which I send to the federal government is for more than most people would aspire to make. My taxes for 2012 should be at least slightly higher than my 2011 taxes in part because I earned gambling income in 2012 and because I also settled a pretty good personal injury case in 2012. I have a decent amount of money saved up with which to pay taxes. Several months ago, I believe it was in early October, I basically went apeshit and paid off the remainder of my student loans, which was the last debt I had remaining. I wasn't being at all irresponsible in doing that. I did it with the strong expectation that I would be doing as well as I usually do for the past few months and my ability to pay taxes would be a non-issue.

For about the last four months, I have been the slowest I have ever been, almost dead. Right now, things are picking up and I doubt I will go back to being slow, especially since summer is the high season for me.

I may very well be able to pay my 2012 taxes on April 15, but I really don't want the stress of not knowing if it will happen. Last year, I was granted an extension for about a month, but I didn't use it. I paid my taxes on time as I always had in the past.

Would I be able to get an extension for several months? What would I have to do to get an extension? Is such an extension automatic?

Post: #10

I'm not an accountant so I cant give you 100% accurate detailed advice...but..its pretty easy to file an extension and then you have until Oct 15 to file/pay. You get hit with interest on the amount you owe but its a very low percent right now so its not too big of an issue. I do it pretty much every year rather then pay on time just out of principle.

Post: #11

(03-11-2013 09:53 PM)TheBMan Wrote:  I'm not an accountant so I cant give you 100% accurate detailed advice...but..its pretty easy to file an extension and then you have until Oct 15 to file/pay. You get hit with interest on the amount you owe but its a very low percent right now so its not too big of an issue. I do it pretty much every year rather then pay on time just out of principle.

Do you own your own business or do you just receive a W-2?

Post: #12

(03-11-2013 10:10 PM)Merenguero Wrote:  

(03-11-2013 09:53 PM)TheBMan Wrote:  I'm not an accountant so I cant give you 100% accurate detailed advice...but..its pretty easy to file an extension and then you have until Oct 15 to file/pay. You get hit with interest on the amount you owe but its a very low percent right now so its not too big of an issue. I do it pretty much every year rather then pay on time just out of principle.

Do you own your own business or do you just receive a W-2?

Self employed/independent contractor, but i dont think it matters. again, consult an accountant, but i think getting an extension is pretty easy

Post: #13

Extension shouldn't be a big deal.

If not you could look at a short-term biz loan. Not sure what the rates are (probably less than 5%), but interest is tax-deductible.

Post: #14

(03-11-2013 07:46 PM)Merenguero Wrote:  I bumped this thread, because it was the only thread I saw which was specifically about the subject of taxes and I didn't want to start a new thread.

As you can easily tell from my posts, I run a law practice. As you can also easily tell from my posts, I was in financial dire straits about five years ago and have since fully paid off my debts.

Here is my dilema. Every April 15, I get completely hit over the head as far as both federal and state taxes go. Some years, the check which I send to the federal government is for more than most people would aspire to make. My taxes for 2012 should be at least slightly higher than my 2011 taxes in part because I earned gambling income in 2012 and because I also settled a pretty good personal injury case in 2012. I have a decent amount of money saved up with which to pay taxes. Several months ago, I believe it was in early October, I basically went apeshit and paid off the remainder of my student loans, which was the last debt I had remaining. I wasn't being at all irresponsible in doing that. I did it with the strong expectation that I would be doing as well as I usually do for the past few months and my ability to pay taxes would be a non-issue.

For about the last four months, I have been the slowest I have ever been, almost dead. Right now, things are picking up and I doubt I will go back to being slow, especially since summer is the high season for me.

I may very well be able to pay my 2012 taxes on April 15, but I really don't want the stress of not knowing if it will happen. Last year, I was granted an extension for about a month, but I didn't use it. I paid my taxes on time as I always had in the past.

Would I be able to get an extension for several months? What would I have to do to get an extension? Is such an extension automatic?

You run a successful law practice but don't have a CPA?

Anyways, you can get an automatic 6 month extension to file, but not to pay. If you don't pay 4/15 you will have to pay interest and late payment penalties. Depending on what you owe they may be significant. If it were me I would pay what you can on 4/15, and that will reduce the interest and penalties. As a self employed individual you will also be required to make estimated payments quarterly throughout the year. The amount you are required to pay is determined by the previous years tax liability. The IRS will also grant you a payment plan of up to 60 months, but this doesn't reduce the penalties and interest.

Hope this helps.

Post: #15

(03-12-2013 10:59 AM)Harvey Specter Wrote:  

(03-11-2013 07:46 PM)Merenguero Wrote:  I bumped this thread, because it was the only thread I saw which was specifically about the subject of taxes and I didn't want to start a new thread.

As you can easily tell from my posts, I run a law practice. As you can also easily tell from my posts, I was in financial dire straits about five years ago and have since fully paid off my debts.

Here is my dilema. Every April 15, I get completely hit over the head as far as both federal and state taxes go. Some years, the check which I send to the federal government is for more than most people would aspire to make. My taxes for 2012 should be at least slightly higher than my 2011 taxes in part because I earned gambling income in 2012 and because I also settled a pretty good personal injury case in 2012. I have a decent amount of money saved up with which to pay taxes. Several months ago, I believe it was in early October, I basically went apeshit and paid off the remainder of my student loans, which was the last debt I had remaining. I wasn't being at all irresponsible in doing that. I did it with the strong expectation that I would be doing as well as I usually do for the past few months and my ability to pay taxes would be a non-issue.

For about the last four months, I have been the slowest I have ever been, almost dead. Right now, things are picking up and I doubt I will go back to being slow, especially since summer is the high season for me.

I may very well be able to pay my 2012 taxes on April 15, but I really don't want the stress of not knowing if it will happen. Last year, I was granted an extension for about a month, but I didn't use it. I paid my taxes on time as I always had in the past.

Would I be able to get an extension for several months? What would I have to do to get an extension? Is such an extension automatic?

You run a successful law practice but don't have a CPA?

I had an accounting firm which I previously used, but they were calling me constantly for no apparent reason, so I stopped using them. I receive too many phone calls as it is. I understand my own income and expenses better than anyone else, so I do all my own calculations, then go to a tax preparer around April 1 of every year.

Post: #16

I have a tax question. For the years 2012, 2013, and 2014, I have requested a six-month extension for filing my taxes. For 2012 and 2013, I have filed and paid on October 15, then never heard anything else from the I.R.S. For 2014, I was granted an extension until this Thursday. I will probably file on Monday or Tuesday. When the most recent extension was filed, the person who requested the extension stated the amount of estimated taxes. The estimated amount seemed high and was an amount greater than the taxes which I usually pay. Since then, I have been receiving bills from the I.R.S. based on this estimated tax amount. I plan on sending them a check for any and all taxes which I owe when I file my taxes this week. My question is if when I file, my taxes turn out to be less (several thousand dollars less) than the estimated amount, what happens? Do they just make the necessary adjustments and leave me alone, or will I have to explain the difference? I have gone over everything with a fine-tooth comb and could easily explain everything, but just don't want the headache.

Post: #17

(10-11-2015 08:08 PM)Merenguero Wrote:  I have a tax question. For the years 2012, 2013, and 2014, I have requested a six-month extension for filing my taxes. For 2012 and 2013, I have filed and paid on October 15, then never heard anything else from the I.R.S. For 2014, I was granted an extension until this Thursday. I will probably file on Monday or Tuesday. When the most recent extension was filed, the person who requested the extension stated the amount of estimated taxes. The estimated amount seemed high and was an amount greater than the taxes which I usually pay. Since then, I have been receiving bills from the I.R.S. based on this estimated tax amount. I plan on sending them a check for any and all taxes which I owe when I file my taxes this week. My question is if when I file, my taxes turn out to be less (several thousand dollars less) than the estimated amount, what happens? Do they just make the necessary adjustments and leave me alone, or will I have to explain the difference? I have gone over everything with a fine-tooth comb and could easily explain everything, but just don't want the headache.

Call the IRS or visit one of their local branches and talk to a representative. Feign a horrible memory and ask for everything in writing. If they try to continue to bill you for estimated taxes but one of their reps explained that your filed taxes are correct and put it in writing, you're covered.

Unfortunately, the IRS is nearly all-powerful when it comes to this. They can easily take out your bank accounts, put liens on your property, take your income, etc... if they feel they are in the right. Your best protection is their staff's documentation that supports your side.

Also, an important thing to understand is that despite the IRS having a HUGE staff, most of their systems are 100% automated and more often than you would imagine their staff don't file things correctly or misapply payments or generally screw up what should be relatively simple paperwork. Guess who's on the hook unless you talk to their staff and get someone who cares? You. Their automated systems will escalate things as far as your pocketbook goes and beyond if you don't address/correct things.

Post: #18

(10-13-2015 01:27 AM)AneroidOcean Wrote:  

(10-11-2015 08:08 PM)Merenguero Wrote:  I have a tax question. For the years 2012, 2013, and 2014, I have requested a six-month extension for filing my taxes. For 2012 and 2013, I have filed and paid on October 15, then never heard anything else from the I.R.S. For 2014, I was granted an extension until this Thursday. I will probably file on Monday or Tuesday. When the most recent extension was filed, the person who requested the extension stated the amount of estimated taxes. The estimated amount seemed high and was an amount greater than the taxes which I usually pay. Since then, I have been receiving bills from the I.R.S. based on this estimated tax amount. I plan on sending them a check for any and all taxes which I owe when I file my taxes this week. My question is if when I file, my taxes turn out to be less (several thousand dollars less) than the estimated amount, what happens? Do they just make the necessary adjustments and leave me alone, or will I have to explain the difference? I have gone over everything with a fine-tooth comb and could easily explain everything, but just don't want the headache.

Call the IRS or visit one of their local branches and talk to a representative. Feign a horrible memory and ask for everything in writing. If they try to continue to bill you for estimated taxes but one of their reps explained that your filed taxes are correct and put it in writing, you're covered.

Unfortunately, the IRS is nearly all-powerful when it comes to this. They can easily take out your bank accounts, put liens on your property, take your income, etc... if they feel they are in the right. Your best protection is their staff's documentation that supports your side.

Also, an important thing to understand is that despite the IRS having a HUGE staff, most of their systems are 100% automated and more often than you would imagine their staff don't file things correctly or misapply payments or generally screw up what should be relatively simple paperwork. Guess who's on the hook unless you talk to their staff and get someone who cares? You. Their automated systems will escalate things as far as your pocketbook goes and beyond if you don't address/correct things.

I will be both filing and paying taxes tomorrow. As for the estimated taxes, I was given an extension until the end of November by which to pay them, so they are leaving me alone right now. What I plan on doing is after I file and pay the actual taxes, going to the local I.R.S. office and explaining the situation to them. I can't just pay, then count on them to fully understand the situation and leave me alone. I should be able to take care of it in person once I file and pay.

Post: #19

My taxes came out to be less than half of what the estimated amount was. That includes all money I made in Las Vegas betting on boxing. If they decide to give me a hard time, I have every penny documented, so it will be a huge waste of time for them. From now on, I will file and pay on April 15 every year. It's too much of a headache otherwise.

Post: #20

(10-13-2015 02:48 PM)Merenguero Wrote:  

(10-13-2015 01:27 AM)AneroidOcean Wrote:  

(10-11-2015 08:08 PM)Merenguero Wrote:  I have a tax question. For the years 2012, 2013, and 2014, I have requested a six-month extension for filing my taxes. For 2012 and 2013, I have filed and paid on October 15, then never heard anything else from the I.R.S. For 2014, I was granted an extension until this Thursday. I will probably file on Monday or Tuesday. When the most recent extension was filed, the person who requested the extension stated the amount of estimated taxes. The estimated amount seemed high and was an amount greater than the taxes which I usually pay. Since then, I have been receiving bills from the I.R.S. based on this estimated tax amount. I plan on sending them a check for any and all taxes which I owe when I file my taxes this week. My question is if when I file, my taxes turn out to be less (several thousand dollars less) than the estimated amount, what happens? Do they just make the necessary adjustments and leave me alone, or will I have to explain the difference? I have gone over everything with a fine-tooth comb and could easily explain everything, but just don't want the headache.

Call the IRS or visit one of their local branches and talk to a representative. Feign a horrible memory and ask for everything in writing. If they try to continue to bill you for estimated taxes but one of their reps explained that your filed taxes are correct and put it in writing, you're covered.

Unfortunately, the IRS is nearly all-powerful when it comes to this. They can easily take out your bank accounts, put liens on your property, take your income, etc... if they feel they are in the right. Your best protection is their staff's documentation that supports your side.

Also, an important thing to understand is that despite the IRS having a HUGE staff, most of their systems are 100% automated and more often than you would imagine their staff don't file things correctly or misapply payments or generally screw up what should be relatively simple paperwork. Guess who's on the hook unless you talk to their staff and get someone who cares? You. Their automated systems will escalate things as far as your pocketbook goes and beyond if you don't address/correct things.

I will be both filing and paying taxes tomorrow. As for the estimated taxes, I was given an extension until the end of November by which to pay them, so they are leaving me alone right now. What I plan on doing is after I file and pay the actual taxes, going to the local I.R.S. office and explaining the situation to them. I can't just pay, then count on them to fully understand the situation and leave me alone. I should be able to take care of it in person once I file and pay.

This doesn't make any sense. They don't give extensions until november. What you declared as an estimate with your extension is only an estimate. They will base your taxes off of the return you file. Just file your return and pay that amount and you will be fine.

Post: #21

^^^
You're right. It doesn't make any sense and it turns out that everything is completely messed up. It's a whole huge headache that I now have to take care of and I will be staying away from the forum until I get this on the right track.

Post: #22

If you need some more assistance or guidance PM me. I deal with this type of shit all the time.